Publication of prospectus, including new financial information, relating to Nordic Mines' rights issue

Not for distribution, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada , New Zealand, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be unlawful

PRESS RELEASE, 23 October 2015

The Board of Directors of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a prospectus for the rights issue (the "Rights Issue") announced on 21 September 2015 and resolved upon by the extraordinary general meeting of the Company on 21 October 2015. The prospectus has today been approved and registered by the Swedish Financial Security Authority (Sw. Finansinspektionen).  The prospectus is now available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours on phone no +46-8-407 80 00. The particular application form for application for subscription in the Rights Issue can be downloaded on Evli Bank's website and Nordic Mines' website.

The Company publishes in the prospectus liabilities, equity and net debt as of 30 September 2015. The current interest-bearing liabilities amount to SEK 2.3 million, the non-current interest-bearing liabilities amount to SEK 132.7 million and the equity amounts to SEK 389.9 million. The net debt amounts to SEK 105.6 million. The Company's liquid assets as per the same date amount to SEK 21.1 million.

Conditions for the Rights Issue and conditions for application for subscription

In order to protect the shareholders' from injecting capital to the Company other than if the Rights Issue meets the sufficient subscription rate, the Rights Issue is conditional upon that a sufficiently high acceptance level in the Rights Issue, in the opinion of the Board of Directors, may be achieved and that the Company and the group's lenders entering into, in the opinion of the Board of Directors, the necessary agreements with respect to the receivables on the group companies under the existing finance documents and that such agreements, in the opinion of the Board of Directors, are likely to be implemented as intended. Any application for subscription is conditional on the conditions for the Rights Issue being achieved.

Issue proceeds

The plan is to use the funds raised by the Rights Issue for:

• The equivalent of EUR 5 million for the purchase of all of the lenders' claims on Group companies.
• Around EUR 3 million to fund the Company for the next 12 months while waiting for more beneficial external factors in the form of primarily the Gold price and currency rates.
• Excess funds raised from the share issue will provide the Company with enhanced financial longevity and the ability to carry out value-enhancing activities, primarily at the Laiva mine.

The proceeds from the Rights Issue will, in case of full subscription, amount to just over SEK 108 million prior to transaction costs related to the Rights Issue. In order for the acceptance level to be considered sufficiently high, it is, at the time of announcement of the prospectus, the Board of Directors' view that the proceeds of the Rights Issue must amount to around SEK 80 million prior to current transaction costs related to the Rights issue (that is, the equivalent of a minimum subscription volume of in total around SEK 80 million with addition of any, from 16 October 2015, unpaid transaction costs), however that the Board of Directors may take into account other financing (including debt financing)  which together with the proceeds from the Rights issue amounts to around SEK 80 million, prior to current transaction costs related to the Rights issue.

Stockholm, 23 October 2015
Nordic Mines AB (publ)

For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901

For more information about Nordic Mines, please visit; www.nordicmines.se.
The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 17.45 a.m. (CET) on 23 October 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.